Abstract :
Creative destruction has become a catchphrase for more than philosophers. It provides intellectual foundation and gravitas to a venture capitalist with a new ambitious business, as well as for a paranoid CEO looking to fire up the troops in the face of prospective entry. Journalists and consultants have referred to it. The market values of dominance motivate new firms to try to reach a similar position, principally through innovating. This also motivates incumbent firms to fend off such entrants, also by innovating.
